Corporate foreign exchange news
Yen eases from seven-month high
Thursday, 10 September 2009 09:39:58 GMT

The Japanese currency eased from its position of 91.61 to the dollar yesterday, reports Bloomberg, after standing at its highest point since February 17th.Early on September 10th, the yen was at 92.04 to the dollar, but eased further to reach 92.15.Bloomberg notes that the currency also relaxed its position compared to the euro from its overnight exchange rate.In New York on September 9th, yen reached 133.99 to the euro, but was unable to maintain its strength by 07:12 in London.By that time, its strength had eased somewhat, taking the exchange rate to 134.4 yen per euro.MarketWatch yesterday reported that the strength of the Japanese currency was buoyed by political developments in the country.It explained that Sunday's victory of the opposition Democratic Party marks a "new era" for Japan.This took yen from 92.96 late on Tuesday to a stronger position of 92.21 in early Wednesday trading.



